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Ubiquiti (UI) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed May 8, 2026
Ubiquiti (UI) reported revenue of $788M for the third quarter fiscal 2026 (Q3 FY26), +19% from a year earlier and -3% from the quarter before. Operating margin was 36.9%, net earnings $234M (29.7% of revenue).
Ubiquiti, Q3 FY26: revenue $788M (+19% year over year), operating margin 36.9%, net earnings $234M, operating cash flow $168M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $788M | -3% | +19% |
| Gross profit | $371M | -0.9% | +25% |
| Operating profit | $291M | -0.7% | +28% |
| Net earnings | $234M | +0.1% | +30% |
| Operating cash flow | $168M | -36% | +36% |
| Free cash flow | $162M | -38% | +34% |
What changed
Revenue was $788.2M in Q3 FY26, up 19% year over year and down 3% from the previous quarter. Enterprise technology was the largest line at 91% of revenue. Enterprise technology added $132.1M year over year (up 23%), 107% of the total change. Service provider technology declined 10%.
Gross margin was 47.0%, up 2.5 points from Q3 FY25. Operating profit was $290.8M, a 36.9% margin (up 2.7 points year over year). Of the extra revenue versus Q3 FY25, 52% reached operating profit, above the 34% margin then. Operating expenses grew 16% against revenue growth of 19%. The fastest-growing cost line was Research & development (+17%). Net earnings were $233.9M, up 30% year over year. The effective tax rate was 19.4%.
Operating cash flow was $167.8M (up 36% year over year), 72% of net earnings. Non-cash charges added back $4.6M of depreciation and amortization and $1.6M of share-based compensation. Working capital and other items used $72.4M. Capital expenditures of $5.6M left free cash flow of $162.2M.
Questions
What was Ubiquiti's revenue in the third quarter fiscal 2026?
Ubiquiti (UI) reported revenue of $788M for the third quarter fiscal 2026 (Q3 FY26), +19% from a year earlier and -3% from the quarter before.
Was Ubiquiti profitable in the third quarter fiscal 2026?
Operating profit was $291M (36.9% of revenue) and net earnings $234M.
Source: Ubiquiti 10-Q on SEC EDGAR.